The latest issue of Staff Papers summarizes papers on core inflation presented at the May 2007 conference "Price Measurement for Monetary Policy," organized by the Dallas Fed and the Federal Reserve Bank of Cleveland.
The Effect of Minimum Wages on Immigrants' Employment and Earnings—This study examines how minimum wage laws affect the employment and earnings of low-skilled immigrants and natives in the U.S.
The first quarter 2008 survey suggested cautious optimism in the Eleventh District agricultural community. Rising fuel, feed and fertilizer costs have strained operating margins, but lower interest rates are helping offset some of the increased financial strain.
Financial Market Tremors: Causes and Responses—This issue features Dallas Fed President and CEO Richard W. Fisher's views on current financial market strains coming from excesses in mortgage lending.
"Will New Business Tax Dull Texas' Competitive Edge?" examines the newly revised franchise tax and its implications for the state business climate.
According to "Is Texas Overbanked?" Texas isn't among the states with the most intense competition for banking services
In this month's "On The Record" conversation, Dallas Fed Research Director Harvey Rosenblum says that the Great Moderation fed the complacency in financial markets that led to the credit crisis.
"Permian Basin Cities Ride Oil Boom Again" examines the economic benefits the West Texas region is enjoying with rising oil prices.
On May 5, 2008, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed on the Board's website.
The Federal Reserve Board on Friday proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances.
Central banks have continued to work together and to consult regularly on liquidity conditions in financial markets. In view of the persistent liquidity pressures in some term funding markets, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing an expansion of their liquidity measures.
Broad-Based Softness in Early 2008—Recent reports reflect a fragile national economy. The economy grew slowly again in first quarter 2008, and more recent indicators suggest that economic activity has weakened in the second quarter amid increased upward pressures on food and energy prices that are causing inflationary pressures to edge up.
The trimmed mean PCE inflation rate for March was an annualized 2.4 percent. According to the BEA, the overall PCE inflation rate for March was 3.7 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.0 percent.
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